Facebook wants to provide e-banking services

The largest social networking world – Facebook is preparing to open a money transfer service in Europe , and allows Facebook users to send money or buy items online.

U.S. technology companies are awaiting approval from European headquarters in Ireland with the service ” electronic money ” . Facebook will release digital deposits , can be converted into cash .

In the U.S. , the company has been allowed to provide some form of cash , for payment in applications like Farmville or Candy Crush Saga . In particular , Facebook took 30% of the transaction value . Last year , $ 2.1 billion has been transferred through Facebook , mostly for game makers .

Facebook can operate as a bank in the future . Photo: AFP

Approved by Facebook Ireland will allow operators of electronic money services across Europe . Users can pay online in the EU member states , without the consent of the authorities of each country , the Guardian said .

Facebook has turned into a central array of mobile development in emerging markets , like India . The country now has more than 100 million Facebook users , accounting for nearly 10% of the airline customers . Facebook is mainly aimed at the huge amount of remittances transferred to India every year .

In developing countries , Facebook is competing with Apple’s iTunes and Amazon . The two companies now have millions of people use credit cards for payment of services .

If approved Ireland , Facebook can act as a bank . Electronic money and payment is thriving branch of the array of financial services and technology . However, the rival of Facebook , such as Amazon or Google , to focus on more than just paying cash .

Amazon CEO – Jeff Bezos said payment is a priority of the company . And Google has also launched wallet service – Google Wallet in the U.S. , registered payment service providers in the UK – similar to Facebook ‘s model for a license in Ireland . However, Google’s services are still not popular with users .